State of New Jersey Common Pension Fund D Sells 920 Shares of Cognizant Technology Solutions Corporation $CTSH

State of New Jersey Common Pension Fund D trimmed its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,131 shares of the information technology service provider’s stock after selling 920 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cognizant Technology Solutions were worth $12,651,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hilltop National Bank purchased a new stake in shares of Cognizant Technology Solutions in the 2nd quarter worth $27,000. Geneos Wealth Management Inc. lifted its holdings in shares of Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after buying an additional 309 shares during the period. WPG Advisers LLC purchased a new stake in shares of Cognizant Technology Solutions in the 1st quarter worth $61,000. Zions Bancorporation National Association UT purchased a new stake in shares of Cognizant Technology Solutions in the 1st quarter worth $66,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 290.9% in the 1st quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider’s stock worth $69,000 after buying an additional 669 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Trading Down 0.2%

Shares of NASDAQ:CTSH opened at $67.86 on Friday. The business’s 50-day moving average is $69.07 and its 200 day moving average is $73.68. Cognizant Technology Solutions Corporation has a 1 year low of $65.15 and a 1 year high of $90.82. The firm has a market capitalization of $33.14 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.41 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period in the prior year, the company posted $1.17 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. Cognizant Technology Solutions’s dividend payout ratio is currently 25.20%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTSH. Citigroup began coverage on Cognizant Technology Solutions in a research note on Thursday. They set a “neutral” rating and a $75.00 price objective for the company. Wall Street Zen cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft began coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They set a “hold” rating and a $80.00 price objective for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Six investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.44.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.